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(Under Corporate Insolvency Resolution Process) Ref No : JBF/SECTL/BOD/ 13th August, 2026 The Secretary The Secretary National Stock Exchange of India Limited Bombay Stock Exchange Limited Exchange Plaza, Bandra Kurla Complex, Pheroz Jeejabhoy Towers, Bandra East Dalal Street, Mumbai, Maharashtra 400 051. Mumbai, Maharashtra 400 001. Sub: Financial Results Sir/Madam, In Compliance with Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Un-audited Financial Statement for the quarter ended on 30th June, 2026, approved by the Resolution Professional of the Company in the meeting held on 13th August. 2026. The Meeting of Board of Directors of the Company commenced at 15.00 hrs. and concluded at 15.22 hrs Thanking you, Yours faithfully, For JBF INDUSTRIES LIMITED Mr. Mukesh Verma Resolution Professional (RP) Registration No: IBBI/IPA-001/IP-P01665/2019-2020/12522 Regd Office : Shop No.4, Ground Floor, Building No.A, Shubh Laxmi Complex, Near Prabhat School Chanandevi, Amli, Silvassa, Dadra & Nagar Haveli – 396230, Earlier Regd Office : 1st Floor, Building No.B-2, Tirupati Residency, Tirupati Balaji Temple, Basera Road, Silvassa, Dadra & Nagar Haveli – 396230, . CIN : L99999DN1982PLC000128 Tel ; +91 6356020333 E-mail : cirp.jbf@gmail.com, sec.shares@jbfmail.com PAN : AAQFS9420E S. C. AIMERA & CO. CHARTERED ACCOUNTANTS Independent Auditor's Review Report on Quarterly and year to date Unaudited Standalone Financial Results of JBF Industries Ltd. Pursuant to Regulations 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 The Resolution Professional JBF Industries Limited. 1. We have reviewed the accompanying statement of Unaudited Standalone Financial Results of JBF Industries Limited (“the Company”) for the quarter ended 30*" June, 2026 and for the period from April 01, 2026 to June 30, 2026 ("the statement”), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the Regulation”), as amended. 2. This statement, which is the responsibility of the Company's Management and approved by the Resolution Professional has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting (Ind AS 34) as prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to issue a report on the statement based on our review. 3. We conducted our review of the statement in accordance with the Standard on Review Engagement (SRE) 2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity’, issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. Our view is limited primarily to inquiries of Company personnel and analytical procedures, applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion. 4. Basis for qualified opinion i. As mentioned in Note 4 to the statement, provision of interest @ Nil% p-a. on monthly compounding basis on Term Loan and simple interest in Cash Credit Limits and Cumulative Redeemable Preference Shares (CRPS) aggregating to Rs. 2,47,379 lakhs (Term Loan Rs. 64,121 lakhs and Cash Credit Rs. 1,71,862 lakhs and CRPS Rs. 11,396 lakhs) as a 30t June, 2026 as against the documented rate, resulting into Ig O provision of finance cost for the quarter ended 30th June 2026 Wy 12299 lakhs, which is not in compliance with IND AS-23 “Borrotg 18, Technocrat Housing Society, Moti Magri Scheme, Udaipur - 313 001 (Raj.) Tele-Fax : 0294 - 2425057 E-mail: sca_ca@yahoo.com, ajmerasc@gmail.com PAN : AAQFS9420E S. C. AIMERA & CO. CHARTERED ACCOUNTANTS Costs" read with IND AS-109 on “Financial Instruments”. Aggregate amount of interest not provided for as at 30t June, 2026 is Rs. 2,13,731 lakhs. Had the interest been provided at the documented rate, finance cost, net loss after tax for the period/year, total comprehensive income and EPS for the quarter ended 30t June, 2026 would have been Rs. 12299 lakhs and Rs. 12,344 lakhs, Rs. (12344) lakhs, and Rs. (15.077) respectively as against the reported figure of Rs. (1) and Rs. 45 lakhs, Rs. (45) lakhs, and Rs. (0.05) respectively in the above results. ii. As mentioned in Note 9 to the statement regarding the application filed with the National Compeny Law Tribunal (NCLT), by one of the operational creditors of JBF RAK LLC (JBF RAK), situated at UAE, a subsidiary of the company, against the Company, for supply of raw materials to JBF RAK and claim of Rs. 12,848 Lakhs (US$ 19,899,091.53) as per notice dated 17t February, 2020. No provision has been considered for the above claim for the reasons stated therein. The matter described in above has uncertainties related to the outcome of the legal proceedings and hence we are unable to quantify the provisions for above claim at this stage, if any, and its consequential impacts on the financial results of the Company. 5. Emphasis of Matter We draw your attention to:- (i) Note 2 to the statement that there is a significant and material impact on the "going concern' status of the Company and its future operations. The Company's ability to sustain itself and generate revenues to meet its financial commitment has been critically dented. Therefore, the company ceases to continue as a going concern. (i) Note 2 to the statement, the Company has received demand notice from Tamilnad Mercantile Bank Ltd, (TMBL) under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ("Sarfaesi Act") and the Rules framed thereunder for recovery of their dues vide letter dated 23 November, 2021 amounting to Rs. 32.94 Crores plus future interest as applicable thereon in terms of loan agreement. TMBL has denied to release the pro rata charge on assets of the company which was transferred to CFM and finally to Madelin Enterprises Private Limited (MEPL). Thereafter, TMBL approached DRT Mumbai for recovery of their due from the Company and CFM. DRT Mumbai has passed interim orge} and CFM challenged the maintainability of TMBL application in DRA where their contention was upheld. Thereafter, TMBL has approach 18, Technocrat Housing Society, Moti Magri Scheme, Udaipur - 313 001 _(Raj B) Tele-Fax : 0294 - 2425057 E-mail: sca_ca@yahoo.com, ajmerasc@gmail.com PAN : AAQFS9420E S. C. AJMERA & CO. CHARTERED ACCOUNTANTS Gujarat High Court and the matter is subjudice. DRT Mumbai has now ordered TMBL to file written submission and TMBL has assured Committee of Creditors of filing a Memo in DRT that the company is undergoing CIRP. TMBL has also filed an IA with NCLT. (iii) Note 5 to the statement, regarding invocation of corporate guarantee given by the company to the lender of JBF Petro Chemicals Ltd. (“JPL”). The company has denied above invocation and is of the view that above invocation is not tenable for the reasons explained therein and hence no provision against the claims under the invoked corporate guarantee is considered necessary. (iv) Note 7 to the statement, regarding non-preparation of consolidated financial statement due to the reasons mentioned therein. The company has subsidiaries and is required to present consolidated financial results. The Company has not prepared and presented the consolidated financial statements/results required by Companies Act, 2013 and IND AS 110 “Consolidated Financial Statements” and the Listing Regulation. However, as on 31st March 2023, M/s. Madelin Enterprises Pvt. Ltd., has acquired the holding [Showing first 8,000 characters — download PDF for full document]